Must admit the cancellation today shocked me; I assumed there would be another round of warnings. The rush to the exit in the final 30 minutes shows that most XIDEQ shareholders were caught off guard. Can you imagine how many were away from their computers, unable to sell, when the news was released! And no doubt a few averaged down (there were a couple of very brief upticks at the end). I also wonder how well stop losses worked.
One of my core beliefs with troubled stocks is that shareholders should unload early. What happened today is a textbook example of why that's a great rule: sell early when the price is still high, grab the tax loss, and don't risk being caught in a cancellation like we just witnessed. Selling early CAN backfire, but only very rarely.
Wonder how much warning even insiders close to the courthouse had. Given the decline on Tues and Weds a few must have had an inkling.
Good if you learned something. These are interesting to watch... from afar.
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